Since 1999, the EU has financed about 3 billion euros of projects and programmes in Latin America. Last week MEPs adopted a report on its relations with the Latin American nations.

Transcript:

As it once was, Madrid will be at the heart of the relations between Europe and Latin America. A summit is planned between EU Member States, Latin American and Caribbean countries. Various issues will be on the table, but the general aim is to reinforce ties. The possibility of signing an agreement with Colombia, Peru and Central America and renewing the work to obtain a new agreement with Mercosur is the most important goal of the next summit. Several presidents had threatened to boycott the summit due to the participation of Honduras’ president Porfirio Lobo, whose election they deem illegitimate. We must understand that both Latin America and Europe have a great advantage of increasing their relations, and it is not good for such an importance to be contaminated by a particular issue like the government in one country. Last week, the EP adopted a report on the EU strategy for Latin American relations. Since 1999, the EU has financed 3 billion euros of projects in Latin America. The region is also an important trade partner as it is home to 600 million people and represents 10% of the world’s GDP.

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